Mobile Banking Surges As Emerging Markets Embrace Mobile Finance

13 мая 2011

Global use
of mobile finance surged in the past year as the spread of new technology and
mobile banking infrastructure drove a huge increase in take-up rates around the
world, according to new research from TNS.­

In
countries as diverse as China , Brazil and Kenya the number of new users of
mobile banking soared over 100% in 12 months, as banks leapfrogged traditional
service models and moved directly to mobile. The increases were not restricted
to emerging markets alone though: take-up rates also surged in the UK, USA,
Singapore, South Korea and Sweden where banks offered customers new services
via their mobile handset.

Analysing
the findings, James Fergusson, Global Technology Sector Head at TNS, said:
"Mobile finance technologies have the tremendous capacity to be
transformational in rapid growth markets, empowering consumers by giving them
greater access to financial services."

"The
necessity, marked interest and the blossoming mobile finance infrastructure
means that countries such as Brazil and China have the right ingredients to
drive mobile finance growth, not just in their own markets, but globally as
well."

The
research has been released as part of TNS Mobile Life, an annual report on
mobile consumer usage, and reveals a wealth of opportunities for banks,
retailers and mobile service providers to develop for existing and potential
customers.

Percentage
increase in mobile banking usage from 2010 to 2011

Country

Percentage
of consumers using in

Increase

2010

2011

China

10%

25%

150%

Brazil

10%

21%

110%

Kenya

6%

18%

200%

USA

11%

22%

100%

In the UK
the proportion of people using mobile banking increased from 9.7% in 2010 to
20.4% in 2011, while in the USA the rates from 11.4% to 21.9%. In Sweden it was
greater still: 8.1% to 20%.

And while
adoption rates increased, desire for mobile banking in areas where it is not
widespread is strong, peaking in sub-Saharan Africa , where almost two-thirds
(63%) of mobile owners expressed an interest in mobile banking.

Bob
Neuhaus, Global Finance Sector Head at TNS, said: "A significant
proportion of the world's population does not have access to banking services.
Making mobile banking easy to access in these markets will not only help create
a more sophisticated consumer marketplace and drive development of the banking
sector, but also provides a huge opportunity for the mobile industry."

"Our
insights from the Mobile Life study demonstrate that in more mature markets,
mobile banking is simply a matter of convenience, and largely an extension of the
PC online experience - allowing the same online convenience, while mobile;
however in developing markets mobile may provide an entry point to banking for
millions of 'unbanked' people, in countries where banking infrastructure is
poor, and banking restrictions create barriers."

Emerging
markets outpace the West in usage and demand for mobile wallet

Mobile
money extends the concept by turning handsets into mobile wallets, capable of
being loaded up with and storing money. As well as delivering new services in
developed markets, mobile wallets can bring people without bank accounts (the
unbanked) into the wider financial world and help drive economic and social
development. The Mobile Life research shows that mobile wallet adoption has
more than doubled across emerging markets, as they take advantage of the new
opportunities it offers - a much higher take-up rate than in developed
countries.

TNS Mobile
Life demonstrates that developed countries such as the USA , Singapore and Hong
Kong have made minimal progression in mobile wallet adoption over the past
year. The USA moved from 6% in 2010 to 8% in 2011, Singapore increased from 10%
to 13%, Hong Kong from 16% to 17%. In contrast, mobile wallet usage in Chile
was below 1% in 2010, but has risen to 7% in 2011 - just one percentage point
below the USA and higher than Australia (6%), France (5%) and the Netherlands
(5%).

China
driving global mobile finance growth

The
increased adoption and demand for mobile finance in China present a huge
opportunity for companies to reach new customers. The financial services that
capture the highest interest in China are paying bills (25%), getting money out
of the bank (15%), and receiving wages (15%). China 's usage of mobile wallet
is already a considerable 52% above the global average and fewer than a quarter
(23%) of Chinese consumers say they are not interested in mobile wallet.

"The
past few years have shown us the tremendous potential for emerging markets to
'leap-frog' more developed markets in adopting new technology. Our findings
from this research suggest that the uptake of mobile banking services is set to
follow this trend," comments Fergusson. He concludes, "In countries
across Sub-Saharan Africa, Latin America and Emerging Asia where there is high
mobile phone prevalence, the lack of robust financial services and a need for
efficient payment methods has contributed to very strong appeal for mobile
finance. It's a logical fit."